Tietto Minerals : Abujar Gold Project February Construction Update

For personal use only

Tietto Minerals Ltd

Unit 7, 162 Colin Street

Perth, WA 6005

Tel: +61 8 9420 8270

Web: www.tietto.com

18 February 2022

Abujar Gold Project February Construction Update:

On track for first gold pour in Q4 CY22

Highlights:

• Construction at Tietto's Abujar Gold Project remains on track for first gold pour Q4 CY22
• Project remains LTI free (lost time injury)
• Permanent camp construction is progressing well
• Civil concrete contractor poured concrete for the CIL ring beams
• Fabrication of structural steel and platework commenced
• Tower stubs for 34km‐long 90kv power line have arrived on site
• SAG Mill remains on track for delivery to site in Q2 CY22
• Abujar Gold Project is fully funded to production

West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) (Tietto or the Company) is pleased to provide a project development update for its fully funded 3.35Moz Abujar Gold Project in Côte d'Ivoire, West Africa for November 2021. Tietto is targeting first gold at Abujar in Q4 CY22.

Tietto Managing Director, Dr Caigen Wang, said:

"I am very pleased to provide shareholders with our third project development update for Abujar. I would again like to thank and congratulate our build team and contractors for their commitment to safety, continuing to work LTI‐free during January.

The build is tracking on schedule at Abujar, which has potential to be one of the largest gold producing mines in Côte d'Ivoire, expected to produce more than 260,000 ounces of gold in the first year and 1.2M ounces of gold in the first six years.

I look forward to providing further updates during the year as construction advances the Abujar Gold Project towards first gold by the end of Q4 CY22 and becomes West Africa's next gold mine."

Figure 2: Aerial view showing Abujar plant site earthworks

For personal use only

Tietto Minerals Ltd

Unit 7, 162 Colin Street

Perth, WA 6005

Tel: +61 8 9420 8270

Web: www.tietto.com

Figure 3: Civil contractor area at Abujar

Figure 4: Camp accommodation units under construction

• ASX 22 November 2021

For personal use only

Tietto Minerals Ltd

Unit 7, 162 Colin Street

Perth, WA 6005

Tel: +61 8 9420 8270

Web: www.tietto.com

ENDS

This update has been authorised on behalf of Tietto Minerals Limited by:

Competent Persons' Statements

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Mark Strizek, a Competent Person who is a Member or The Australasian Institute of Mining and Metallurgy. Mr Strizek is a non‐executive director of the Company. Mr Strizek has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Strizek consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Additionally, Mr Strizek confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

The information in this presentation that relates to Mineral Resources was prepared by RPM Global and released on the ASX platform on 12 July 2021. The Company confirms that it is not aware of any new information or data that materially affects the Minerals Resources in this publication. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the RPM Global's findings are presented have not been materially modified.

The information in this report that relates to Mineral Resources is based on information evaluated by Mr Jeremy Clark who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Clark is an associate of RPM and he consents to the inclusion of the estimates in the report of the Mineral Resource in the form and context in which they appear.

The information in this report that relates to Ore Reserves was prepared by RPM and released on the ASX platform on 5 October 2021. The Company confirms that it is not aware of any new information or data that materially affects the Ore Reserves in this publication. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the RPM findings are presented have not been materially modified

The information in the report that relates to Ore Reserves for the Abujar Gold Project is based on information compiled and reviewed by Mr. Igor Bojanic, who is a Fellow of the Australasian Institute of Mining and Metallurgy, and is an employee of RPM. Mr. Igor Bojanic has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he has undertaken to qualify as a Competent Person, as defined in the 2012 Edition of the Australasian Code for the Reporting of Mineral Resources and Ore Reserves. Mr. Igor Bojanic is not aware of any potential for a conflict of interest in relation to this work for the Client. The estimates of Ore Reserves presented in this Statement have been carried out in accordance with the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" ( 30 September, 2021).

Compliance Statement

This report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" ("2012 JORC Code") and available for viewing at www.tietto.com. Includes results reported previously and published on ASX platform, 16 January 2018, 27 March 2018, 23 April 2018, 8 May 2018, 7 June 2018, 4 October 2018, 1 November 2018, 28 November 2018, 31 January 2019, 26 February 2019, 12 March 2019, 19 March 2019, 9 April 2019, 9 May 2019, 30 May 2019, 9 July 2019, 26 July 2019, 2 October 2019, 24 October 2019, 12 December 2019, 23 January 2020, 20 February 2020, 10 March 2020, 24 March 2020, 2 April 2020, 9 April 2020, 23 April 2020, 3 June 2020, 9 June 2020, 25 June 2020, 2 July 2020, 21 July 2020 20 July 2020, 29 July 2020, 19 August 2020, 9 September 2020, 24 September 2020, 26 October 2020, 11 December 2020, 18 January 2021, 12 February 2021, 23 February 2021, 23 March 2021, 6 April 2021, 8 April 2021, 20 April 2021, 3 May 2021, 6 May 2021, 11 May 2021, 21 May 2021, 27 May 2021, 11 June 2021, 16 June 2021, 12 July 2021, 10 September 2021, 22 September 2021, 5 October 2021, 13 October 2021, 21 October 2021, 8 November 2021, 12 November 2021, 16 November 2021, 22 November 2021, 30 November 2021, 10 December 2021, 22 December 2021, 18 January 2022, 20 January 2022, 24 January 2022, 7 February 2022 and 14 February 2022. The Company confirms that all material assumptions and technical parameters underpinning the Mineral Resources and Ore Reserves continue to apply and have not materially changed. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcements.